There are five main types of keys:

1.Sunk
2.saddle
3.tangent
4.round and
5.spline.
SUNK KEY
Types of sunk keys: rectangular, square, parallel sunk, gib-head,
feather, and Woodruff.
PARALLEL KEY
Parallel keys are the most widely used. They have a square or
rectangular cross-section. Square keys are used for smaller shafts
and rectangular faced keys are used for shaft diameters over 6.5 in
(170 mm) or when the wall thickness of the mating hub is an issue. Set
screws often accompany parallel keys to lock the mating parts into
place. The keyway is a longitudinal slot in both the shaft and mating
part.
Cross-section of a parallel keyed joint
W = d/4[clarification needed]
H = 2d/3[clarification needed]
where
W is the key width
H is the key height
d is the shaft diameter
This type of key was developed by William N. Woodruff of Hartford Connecticut. In 1888,
he was awarded the John Scott Medal by the Franklin Institute for his invention.
SADDLE KEY
These types of keys are generally attached to the driving member (e.g. shafts). These
types of keys have less strength as compared with the sunk keys. These are rarely used
keys, to transmit lower power to the driven members (e.g. couplings
TANGENT KEY
Tangent keys are used in high-torque heavy-duty applications. What would have been the
side of each keyway forms heels against which the key sits, and transfers force
compressively. This latter point means that for reversible motion of the shaft, another key
along a tangent outwards in the opposing direction is needed. Typically this will be offset
by 90° or 180° on the shaft. The key may be wedge, rectangular, or square shaped, but
particularly rectangular double-taper keys are used.
WIRE CUT ELECTRICAL DISCHARGE MACHINIG
Wire-cut electrical-discharge machining (EDM) is primarily used for small
production lot sizes where either extreme precision is required or other cutting
technologies are not readily available. Wire-cut EDM cuts keyways by eroding
material away from the workpiece through a series of rapid electric current
discharges between a spooling wire and the workpiece through a dielectric liquid.
Computer numerical control (CNC) wire-cut EDM machines allow for a wide variety
selection of keyways to be cut, inclusive of multiple keyways on the same hub. The
main limitations of CNC wire-cut EDM is the time it takes to cut a keyway as well as
the size of parts a given wire-cut EDM machine can accommodate.